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The Rashtriya Chemicals & Fertilizers Ltd (RCFL) Offer for Sale received total bids of ₹237.28 crore against the 20 per cent portion reserved for retail investors. An official statement said that this stake was valued at ₹40.96 crore.
According to an official statement, the retail portion was oversubscribed by 5.62 times while non-retail portion by 2.14 times.
The non-retail portion of the OFS opened on June 29. A total subscription of ₹350.62 crore has been received against shares valued at ₹163.85 crore at the floor price and oversubscribed by 2.14 times.
The 5 per cent divestment in the RCFL through the OFS offered 27,584,405 shares worth to ₹204.81 crore at the floor price of ₹74.25 per share. The OFS received a total demand for 7,82,00,420 equity shares amounting to ₹587.9 crore. Therefore, the OFS of RCFL over-subscribed by 2.83 times. This is the second central public sector undertaking OFS in the current financial year, and government is expecting to get approximately ₹203 crore.
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